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In Brief
The Facts: Federal Reserve Chairman Jerome Powell explained Tuesday during a panel discussion on digital finance hosted by The Bank of France that they are looking a CBDC very carefully.
China has already begun a large trial with millions of people already using their CBDC.
Opponents of CBDC, like Snowden, say it takes away more of our rights and freedoms, and puts more power and control over our lives in the hands of the elite in several different ways.
Reflect On: Will CBDCs be ushered in to increase the power and control the financial elite already have over the people?
Are ethics, morality and service to others guiding or technological development, or is greed and the lust for power and control the guiding factor?
Pause – set your Pulse…
Take a breath. Release the tension in your body. Place attention on your physical heart. Breathe slowly into the area for 60 seconds, focusing on feeling a sense of ease. Click here to learn why we suggest this.Although no decisions have been made, Federal Reserve Chairman Jerome Powell explained Tuesday during a panel discussion on digital finance hosted by The Bank of France that they are “looking at it very carefully.” He’s of course talking about a Central Bank Digital Currency (CBDC).He expressed that the Federal Reserve is currently evaluating both “the policy issues and the technology issues, and we are doing that with a very broad scope.”Earlier this year, The Federal Reserve Board issued a discussion paper that examines the pros and cons of a U.S. CBDC. “CBDC is generally defined as a digital liability of a central bank that is widely available to the general public. Today in the United States, Federal Reserve notes (i.e., physical currency) are the only type […]
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